Cliffs Natural Resources Inc. (CLF) Rating Reiterated by KeyCorp
Cliffs Natural Resources Inc. (NYSE:CLF)‘s stock had its “hold” rating reissued by research analysts at KeyCorp in a research note issued to investors on Friday. KeyCorp also issued estimates for Cliffs Natural Resources’ FY2018 earnings at $0.72 EPS.
Several other equities analysts have also weighed in on the stock. FBR & Co restated a “buy” rating and issued a $10.00 price objective on shares of Cliffs Natural Resources in a report on Wednesday, September 6th. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. J P Morgan Chase & Co lowered shares of Cliffs Natural Resources from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.90 to $10.00 in a report on Monday, October 23rd. TheStreet upgraded shares of Cliffs Natural Resources from a “d+” rating to a “c” rating in a report on Monday, July 31st. Finally, ValuEngine lowered shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $8.97.
Cliffs Natural Resources (NYSE:CLF) opened at $6.38 on Friday. Cliffs Natural Resources has a 12-month low of $5.56 and a 12-month high of $12.37. The stock has a market cap of $1,891.73, a P/E ratio of 6.93 and a beta of 1.58. The company has a debt-to-equity ratio of -2.03, a quick ratio of 1.18 and a current ratio of 1.89.
Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings data on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.06. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. The business had revenue of $698.00 million for the quarter, compared to analyst estimates of $669.25 million. During the same period in the prior year, the business posted ($0.11) earnings per share. Cliffs Natural Resources’s revenue was up 26.2% compared to the same quarter last year. research analysts anticipate that Cliffs Natural Resources will post 0.49 EPS for the current fiscal year.
In other news, Chairman Lourenco Goncalves bought 100,000 shares of the stock in a transaction on Friday, September 15th. The stock was purchased at an average price of $7.11 per share, with a total value of $711,000.00. Following the completion of the purchase, the chairman now owns 3,586,970 shares of the company’s stock, valued at $25,503,356.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Nuveen Asset Management LLC increased its stake in Cliffs Natural Resources by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock valued at $115,000 after purchasing an additional 164 shares in the last quarter. Comerica Bank increased its position in shares of Cliffs Natural Resources by 49.5% during the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock worth $116,000 after acquiring an additional 5,129 shares in the last quarter. ARP Americas LLC increased its position in shares of Cliffs Natural Resources by 72.5% during the second quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock worth $122,000 after acquiring an additional 7,400 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of Cliffs Natural Resources during the second quarter worth $128,000. Finally, D.A. Davidson & CO. increased its position in shares of Cliffs Natural Resources by 486.8% during the second quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock worth $128,000 after acquiring an additional 15,428 shares in the last quarter. 61.33% of the stock is owned by hedge funds and other institutional investors.
Cliffs Natural Resources Company Profile
Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.
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